Business

Minister of State for Petroleum Resources, Ibe Kachikwu during the 168th OPEC meeting in Vienna [Photo credit: The Iran Project]

Nigeria lucky again as OPEC extends oil output cut by 9 months

In December, OPEC agreed its first production cuts in a decade and the first joint cuts with non-OPEC

OPEC [PHOTO CREDIT: Zero Hedge]

ANALYSIS: Nigeria, others hopeful as OPEC meets to extend oil output deal

The oil output deal led to a marginal increase in oil prices.

ExxonMobil Nigeria Headquarters

Nigerian government to intervene in Exxon Mobil, oil workers’ crisis

The latest industrial action was to protest the sack of 150 workers in December, of which 82 were PENGASSAN members.

NNPC TOWERS

NNPC to invest in telecoms, shipping sectors

The corporation also said it desires to seek a fortune in non-core oil industry so as to stay afloat.

Murtala Mohammed International Airport, Lagos

Aviation unions kick against concession of Nigerian airports

The unions also resolved to boycott stakeholders’ meeting.

Nigerian economy improved slightly in 2016, but remains in recession -- NBS [Photo Credit: naija247news.com]

Nigeria foreign investment inflow declines 41 per cent; lowest in ten years

Lagos accounted for 95.32 per cent of capital imported into Nigeria in first quarter 2017.

Kaduna State Governor, Nasir el-Rufai

Kaduna releases 2016 Audited Accounts

The state says it reduced its recurrent expenditures by N5 billion during the financial year.

Minister of Finance, Kemi Adeosun

Nigeria’s debt to top 24% of GDP by 2018 — IMF

Nigeria ended 2016 with a debt to GDP ratio of 18.6 per cent.

Minister of Finance, Kemi Adeosun

Nigerian economy maintains recovery path – Presidency

“Headline inflation fell for the third month in a row to 17.24 per cent.”

Godwin Emefiele, CBN Governor

Nigeria retains 14% lending rate

The rate was retained for sixth consecutive time.

Naira Notes

Despite govt’s assurances, Nigerian economy still in recession – Report

Nigeria’s GDP contracted by 0.52 per cent in the first quarter of 2017.

Medview Airline

Nigeria civil aviation agency holds talk with EU to resolve Medview ban

Medview Airline was last week banned from operating within the airspace of the European Union.

Map of Africa

IMF prescribes options for economic growth in Sub Saharan African countries

According to the bank, sub-Saharan economic growth hit only 1.4 percent last year, the lowest level in two decades.

Central bank of Nigeria

Nigerian manufacturers want Central Bank to reduce lending rate

The CBN has maintained a 14 per cent lending rate to commercial banks since July 26, 2016.

Ethiopian Airlines

Nigeria warns Ethiopian Airlines: Stop collecting unauthorised charges

The unauthorised charges referred to as “refundable deportation fee” is put at between $75 and $150.

OPEC [PHOTO CREDIT: Zero Hedge]

OPEC considers nine-month extension in output cut

Saudi Arabia and Russia have agreed on the need to prolong the current cuts until March 2018.
Pix: OPEC meeting

Oil-Rig-thumb-610x335-70289

PENGASSAN strike: Oil workers ‘suspend strike in Rivers’

An official says the strike continues across the country.

Ahmed Kuru, Managing Director, Asset Management Corporation of Nigeria (AMCON)
[Photo: Tadall]

AMCON takes over company’s asset over Wokson N5 billion debt

A court ordered the takeover.

Dollars

‘Forex shortages forced Nigerians to consume local products’

Nigeria’s inflation slowed for a third month in April, put at 17.2 percent.

Hon. Minister of Power, Works & Housing, Mr Babatunde Fashola, SAN(middle), the Minister of State in the Ministry, Hon. Mustapha Baba Shehuri (left) and Deputy Managing Director, Ibadan Electricity  Distribution  Company Plc  (IBEDC) , Engr. John Ayodele (left) inspecting the IBEDC’s  Control Room  during the 12th Monthly Meeting with Sectoral Participants in the Power Sector hosted by IBEDC Plc  at the Olorunsogo Injection Substation, Akanran, Lagos-Ibadan Expressway, Ibadan, Oyo State on Monday 13th, February 2017.

Nigerian electricity consumers free to get direct supply from generation companies – Fashola

The Association of Nigerian Electricity Distributors has condemned the plan.

Nigerian Port Authority, Apapa Lagos[Photo Credit:Logbaby]

Osinbajo orders 24-hour operations at Apapa Port

The acting president signs an executive order directing instant removal and prosecution of bribe takers at sea and airports.

Medview Airline

UPDATED: Nigerian airline, Medview, banned by European Commission

The company says its London operation is not affected.